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Question

Which institution plays a significant role in providing refinance facilities to rural banks and cooperatives?

  1. RBI (Reserve Bank of India)
  2. NABARD (National Bank for Agriculture and Rural Development)
  3. SBI (State Bank of India)
  4. SIDBI (Small Industries Development Bank of India)

Answer:

Option B: NABARD (National Bank for Agriculture and Rural Development)

Detailed Solution:

The correct answer is “NABARD (National Bank for Agriculture and Rural Development)”.

NABARD (National Bank for Agriculture and Rural Development) is the apex development bank in India that provides refinance facilities to rural banks and cooperatives to promote agriculture and rural development.